Reneging? Please help
Is it legal to sign an employment contract and if a better opportunity arises cancel it and take the other offer? I have different offers (1 at a bank, another for a fortune 500 company) and interviews coming up.I have seen how some banks are cancelling some contracts and I don't want to be in that position (the bank is acting sus with my contract). I guess it will backfire, but I wouldn't like to get blacklisted by any of these companies.
London specific
Reneging on a contract is always a tricky situation, but not uncommon. If you do it respectfully, no one is going to hold a grudge against you. Don’t feel loyal to those companies, you are replaceable in the blink of an eye - do what is best for your career.
Good luck bro
Thanks for the reply. When you say tricky, how bad could it be? For the fortune 500 company they only gave one position and I'm not sure how would they take it
Bro i don’t want to hurt your feelings, but they will have you replaced in a week - especially if it’s a F500.
if you renege, you essentially are voluntarily breaching contractual terms and thus terminating the contract
the counterparty can pursue litigation, but will not receive any remedies (ie no monetary damage suffered by them other than the cost of recruiting/hiring you)
this is why in most cases, firms wouldn’t pursue legal action except maybe blacklist you
You are an at-will employee. Read the section in your offer about that, it will say something about how your or your bank can terminate your employment at will. You have an employment agreement not a contract.
You can renege and simply not tell them where you’re going. There should be no legal reprecussions to this under the terms of your offer of employment if you are at-will. Just read what’s in there. This is not legal advice.
Totally legally. Your contract will have a termination clause. Adhere to that. You will likely be unable to go back to that group in the future, until the people you annoyed have moved on.
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